| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 71st | Best |
| Demographics | 38th | Fair |
| Amenities | 76th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 1240 SW 9th Rd, Gainesville, FL, 32601, US |
| Region / Metro | Gainesville |
| Year of Construction | 2008 |
| Units | 100 |
| Transaction Date | 2020-02-27 |
| Transaction Price | $7,900,000 |
| Buyer | GATOR STUDENT HOUSING LLC |
| Seller | CASE 1240 SW 9TH ROAD LLC |
1240 SW 9th Rd Gainesville Multifamily Investment
Stabilized renter demand in Gainesville s Urban Core supports leasing durability, according to WDSuite s CRE market data, with newer stock offering competitive positioning versus older inventory. Neighborhood occupancy trends warrant active lease management, but deep renter concentration provides a sizable tenant base.
The property is in Gainesville s Urban Core and benefits from an A-rated neighborhood that ranks 16 out of 114 locally placing it in the top quartile among Gainesville neighborhoods. Daily-needs access is a strength: restaurant density is among the highest in the metro (99th percentile nationally), with strong coverage of grocery and pharmacy options. Park and cafe density trends lower, so on-site or nearby private amenities can be a differentiator for retention.
Multifamily relevance is underscored by a high share of renter-occupied housing units in the neighborhood (ranked 2 of 114), signaling a deep tenant base and consistent leasing pipelines. Neighborhood occupancy sits below the metro median based on rank, so investors should emphasize renewal strategies and targeted concessions to sustain occupancy stability while protecting effective rents.
Within a 3-mile radius, population and household counts have grown and are projected to continue increasing, pointing to a larger tenant base and continued renter pool expansion. Forecasts also indicate smaller average household sizes over time, which can support demand for smaller units and studios while reinforcing absorption for well-located, professionally managed properties.
Ownership costs in the neighborhood are elevated relative to local incomes (value-to-income ratio ranks 1 of 114 and is in the 99th percentile nationally). This high-cost ownership market tends to sustain reliance on rental housing, supporting lease retention and pricing power when paired with thoughtful affordability positioning. Median contract rents in the neighborhood are above the metro median by rank, so revenue strategy should balance rent growth with retention to limit turnover risk.
Safety metrics are mixed and should be evaluated as part of ongoing operations rather than a single-point snapshot. The neighborhood s crime rank sits in the lower half of Gainesville (67 out of 114), indicating higher incident rates than the metro median. Nationally, the area compares below average for safety by percentile; however, recent year-over-year trends show improvement, with both violent and property offenses decreasing. These directional improvements can support leasing if reinforced by visible property-level measures and resident engagement.
As always, neighborhood statistics reflect broader area conditions rather than property-specific outcomes. Investors should pair these comparative indicators with current police reports and property management data to calibrate operating policies and security investments.
Built in 2008, the asset is newer than much of the surrounding stock, offering competitive positioning versus older properties while still benefiting from targeted system upgrades and light common-area refreshes typical for assets of this vintage. Neighborhood fundamentals are investor-friendly: a top-quartile Gainesville location by rank, a very high concentration of renter-occupied housing units, and strong access to daily-needs retail and restaurants. According to CRE market data from WDSuite, neighborhood occupancy trends sit below the metro median by rank, so disciplined renewal strategies and amenity-driven retention will matter for cash flow stability.
Within a 3-mile radius, population and households have increased with further growth projected, expanding the renter pool and supporting absorption. Elevated ownership costs relative to local incomes reinforce reliance on multifamily, while above-median neighborhood rents by rank suggest room for revenue management that prioritizes retention and stabilized occupancy. Affordability pressures in the immediate neighborhood warrant careful lease management, but the deep renter base and location fundamentals provide a durable demand backdrop.
- 2008 vintage offers competitive positioning versus older stock with targeted modernization potential
- Top-quartile Gainesville neighborhood by rank with strong access to restaurants, grocery, and pharmacies
- High share of renter-occupied units signals a deep tenant base and leasing durability
- Below-metro-median occupancy by rank calls for focused renewals and amenity-driven retention
- Risk: Affordability pressures in the immediate area require careful pricing and expense management